Manufacturing Industry: More than $30 million
Tourism Industry: More than $20 million
Distribution/SOC: More than $10 millionR&D: over $2 million(Industry Support Service Business Advanced technology-based business and regular employment of more than 10 people with a master’s degree and higher)

Complex-type foreign investment area

Manufacturing Industry: More than $10 millionDistribution industry: over $5 million

For three years 100%For two years 50%

Reduction of Rental Costs

Supported

Requirements for tax reduction

Details of tax reduction

periods of tax benefits

Reduction of Rental Costs

developmental foreign investment area

100%

50 years(Extension of period for 50 years)

Industry support service business & more than $1million

Complex-type foreign investment area

100%

General Industrial Complex area

50%

Parts and materials industry & more than $5million

Complex-type foreign investment area

100%

General Industrial Complex area

50%

General manufacturing industry & more than $5million

Complex-type foreign investment area

75%

General Industrial Complex area

50%

Global R & D Center : The center provides foreign investing companies with space for research and preparation of factory construction for up to five years at no cost

Cash GrantⅠ

Type

Details of support

standard of support

more than 30 % of foreign investment

Supported

-Industry Support Service Business/ Advanced technology
-based business, construction or expansion of factories
-Construction or expansion of parts and materials factories-Construction or expansion of R & D buildings related to industry support service business and advanced technology-based business(In case where more than five people with a master’s degree or higher in the related field or more than three years of related work experience are employed.)

The Foreign Investment Committee has discussions on the basis of categories that decides whether or not they will offer financial support.

Either cash grants or financial support (mostly space provision) are provided, which is up to the applicant to choose.The number of regular employees

Manufacturing/mining/construction/transportation/publication, video, broadcasting communications and information service/ business site management and business support service/ healthcare and social welfare services ▶ 300 persons

Agriculture, forestry and fishery/electricity, gas, steam and water business/ wholesale and retails/ accommodations and restaurants/finance and insurance/science and technology/ arts, sports and recreation-related business ▶ 200 persons

Cash Grant Ⅱ (Support by a Municipal Ordinance)

more than 30 % of foreign investment in the total investment, the first foreign stockholder

Facilities Grant

construction or expansion of factories and research buildingsIn cases where facilities are worth more than 2 billion won

In cases where facilities are worth more than 2 billion won, financial support is provided within 5% of the exceeded value.

Support for Companies Making a Massive Investment

Manufacturing: more than $30 million
Tourism: over $2 million
Distribution/SOC : over $10 millionR&D :more than $2 million(Advanced technology-based business and regular employment of more than 10 people with a master’s degree and higher

within 50% of the investment cost (agreed to by the municipal council)

Employment Subsidies

If more than 20 people are newly employed

In cases where the number of people exceeds 20, less than 500,000 won per month is provided for one person. (Within 6 months/ up to 200 million won per business)

Educational Training Subsidies

In cases where training courses are offered for the new employment of more than 20 people

Less than 500,000 won per month for one person (within 6 months/ up to 200 million per business)